IMF's Lipsky warns of 'unthinkable' in global credit crisis

12 Mar 2008 03:03 PM ET
CNBC

WASHINGTON (Thomson Financial) - The International Monetary Fund (IMF) today warned authorities worldwide to "think the unthinkable" in planning to cope with a mounting crisis in the global financial system. John Lipsky, IMF first deputy managing director, called for "decisive policy action" amid a credit crunch that stems from the US real estate meltdown and is spreading throughout the financial markets. The coordinated actions by the US Federal Reserve and other global central banks on Tuesday to further pump billions of dollars of liquidity into financial markets were "helpful" but stronger measures may be necessary ... Read the Entire Article